Tokyo-based GCASavvian Corp. and financial advisory group Altium agreed to merge tocreate an investment bank focused on growth companies with an extensive global network.
The proposed merger will expand GCA Savvian's global reach, givingit access to Altium's clients in other parts of the world. Altium operates in London,Manchester, Frankfurt, Munich, Zurich, Milan and Tel Aviv, while GCA Savvian operatesin Tokyo, San Francisco, New York, London, Mumbai, Osaka, Shanghai and Singapore.
GCA Savvian said it expects the merger to provide it with a strongand balanced presence in the U.S., Europe and Asia, with one-third of the firm'spro forma revenue expected to be derived from each region. The combined businessis expected to have US$200 million in advisory revenues.
Following the merger, the new entity will operate as GCA Altiumin Europe and GCA in the U.S. and Asia. The merger is expected to be completed earlyin the second half, subject to regulatory approval and other customary closing conditions.
Financial details of the transaction were not disclosed.
The board of the merged entity will include Geoffrey Baldwin,Todd Carter, Richard Kramlich and Mark McInerney from the U.S.; Jiro Iwasaki, IsaoOkubo, Hiroaki Ota, Masatake Yone and Akihiro Watanabe from Japan. Watanabe willalso remain as representative director. Phil Adams, CEO of Altium, Alexander Grünwaldand Sascha Pfeiffer from GCA Altium in Europe will also join the board.